Iwan Juniarto has been appointed as GMF AeroAsia's new president and chief executive, while the Garuda Indonesia unit is set to list in the third quarter of the year.

Juniarto was previously Garuda's technical and IT director, and previously also held roles at GMF such as director of line operations, vice-president of base maintenance, and general manager for base maintenance planning and control.

He replaces Juliandra Nurtjahjo, who was appointed as president of Garuda's low cost carrier Citilink Indonesia in March.

In a statement, Garuda's president and chief executive Pahala Mansury says that GMF is targeted to earn $454 million in revenue, with a net profit of $69 million this year. This is up $387 million in revenue and $58 million in net profit, in 2016.

GMF is also targeting to launch its long-planned initial public offering "in the third quarter of this year," adds Mansury.

The MRO operator previously told FlightGlobal that parent Garuda Indonesia will sell off 20% of its stake in the company through the IPO.

Source: Cirium Dashboard